Changing Market Environment

1642 WordsJul 12th, 20117 Pages

Changes in the Marketing Environment and its Implications

The word “Marketing” refers to an activity that is strategically concerned with the management of relationship among an organization and environment. Environment could be described as an internal and external condition to an organization. Internal Environment consists of situational factors that are present within the organizational boundaries whereas external environment consists of any factors or conditions that are not under the control of an organization. Internal Environment creates strengths or weaknesses for a firm, however external environment may create opportunities or threats. Over the past some years, a significant change in external environment has been happened. In…show more content…

They were more rigid. However, today consumers want change, they want to experience new things, and much more flexible. These are some of the reasons of fashionisatin and erosion of brands. All these things are demanding more change in the marketing environment.

Earlier, all businesses produce goods and then market them broadly to the general public without considering the needs of specific consumers in the market. However, in the current situation companies are adopting more targeted approach. In this regard, they advertise and market their product primarily to their target market. Companies now are increasing their reliance on niche marketing and specialization which is also refers to micro market. This phenomenon of micro market is creating change in the marketing environment and possessing challenge to the marketer.

Change in the marketing environment also comes from the product life cycle. As product moves from one stage to another, a change occurs. In the earlier and middle stages of the product, companies try to differentiate their products which help them to charge premiums from the customers. However, in the later stages of the product, commoditization happens. Commoditization is a concept which reduces the differentiation. Reduction in the differentiation would results in the shrinkage of profit margins. Generally, companies do not want to commoditize and strives to prolong the middle

BK 3037 Strategic Marketing
Question 1: PESTEL Answer: Political One of the macro-environment factors which influencing Volvo’s strategy is the large taxation toward automotive trade by the government. Government is putting in place taxation structures that penalize large cars, with large CO2 emission. According to the case, Volvo’s biggest seller was its XC range, now being particularly successful in America, where big cars typically equated to big success. This government acts is encouraging consumers…

UNIT 1 COMPLETE QUESTIONS:PRINCIPLES OF MANAGEMENT
Sigma Marketing: Managing in a Changing Environment
CASE SUMMARY:
Summarize the key facts of the case in a paragraph.
According to Ferrell, Gatewood, Gatewood, and Taylor, Donald Sapit President of Weston Laboratories; a small research facility southwest of Chicago hand an opportunity to acquire Dayne printing company at an attractive price since they were now on the verge of bankruptcy (Ferrell, Gatewood, Gatewood, & Taylor, 2010). In…

a continuously changing business environment
In today’s society companies need to build a culture within their organisation that embraces change and individuals in the workforce need to learn to thrive in an ever changing environment. The workplace is always changing and companies that don’t change are being left behind. Organisational change efforts can be destroyed by internal resistance, as the age of technology advances. The technology available to business’s today is changing at an increasing…

INTRODUCTION
After a rapid development over the past 10 years, the music market is currently undergoing significant changes. These changes are caused not only by marketing competition but also by the challenges from external marketing environment.
The entertainment industry kept growing for years and as the business grew, the competition also increased. There has also been an increase in the sales of music online. Selling online made it cheaper for customers and as a result many preferred to buy…

The world is a complex changing environment. Due to globalization, we as a nation are more interconnected with the world around us and are affected by other nations. In the 21st century, we have witnessed the rise of a new enemy, motivated by religious ideology, which is waging a war that cannot be won through traditional means. If the United States Army wants to win in this changing environment, there needs to be focused, sustained and collaborative efforts that unify capabilities across war fighting…

Facing the changing of enterprise external environment, it asks for managers should stand at the height of strategic management to makes an overall plan for the development of the enterprise. The Balanced Scorecard (BSC) has great advantages in the link of enterprise strategy and performance management. It covers strategic areas, and includes human resource management. However, it has many shortages and theoretical defect.
Recent research (Rui Z and Ming J, 2001) argued that most research on performance…

INTRODUCTION
In this age of rapidly changing business environment, many organisations and business houses faces a constant pressure to continuously adapt and redefine their business process. One of the key processes in doing business whether big or small ranging from small grocery store to a big retail chain is the supply chain process. With the increase in exposure of the companies to the global environment, liberal trade policies, business partnerships and virtual proximity between any two locations…

decades, the telecommunication market has undoubtedly been amongst one of the fastest growing markets. Telecommunications, by definition, is anything that allows communications over a distance. The industry has diverged into developing many more discrete mediums for which we just to communicate. As demand grew, the number of companies that developed and sold telecommunications devices grew as well and meets almost every imaginable demand and niche available in the market. The telecommunications industry…

Lecture-Evaluating Opportunities in the Changing Marketing Environment
Now that we understand what the general approach is to pulling together a marketing plan, there are a number of elements that stand out as essential to look at in order to meld it into a workable strategy. One of these things is the nature of the competition…that is, the competitive environment.
Competitive analysis is one vital consideration to preparation of the marketing plan, because it interrelates so closely with…

Introduction
The world is changing and the environment we are living in is becoming very competitive by the day. Considering the work environment of this changing world, both the employees and employers at the workplace are facing a lot of risk issues, regarding this rapid change in the economy and society followed by the overpowering competition. In order to sustain in the business market and meet the consumer demands, the organizations and the employers are required to come up with new methods…